My thought would be a colour thermal printer, but having just googled to see what's available, an entry level machine won't leave you much change out of 1k.
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Do you need full colour printing, or would black on colour be good enough?
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It would probably be worthwhile giving somewhere like www.labelzone.co.uk a call, and see what they suggest. That's who I use for my postage label printing supplies, and they've always been helpful.